A new hedge fund has hired from a fallen titan

Job seekers listen to prospective employers during a job hiring event in San Francisco
Thomson Reuters
BOSTON, June 20 (Reuters) - Hedge fund manager David Russekoff has hired Chetan Gulati, a former colleague from Perry Capital, to beef up the investment team at his newly formed firm Smith Cove Capital.

Gulati will work in London, a spokesman for Smith Cove confirmed on Tuesday.

Russekoff and Gulati will reunite at Smith Cove after having worked together at Perry for eight years. Russekoff, who had been Perry's chief investment officer, left the firm in 2015 and Gulati, who specialized in buying distressed structured securities, stayed through 2016 when Perry announced plans to shut down.

Russekoff already hired former colleague Bob Carroll as his head trader. Roger Schmitz, who used to work at Monarch Alternative Capital, and Victor Consoli, who previously worked with Perella Weinberg Partners, round out the investment team.

Smith Cove began trading with less than $100 million in partner capital in March and likely will begin trying to raise outside capital later in the year. The firm owned Rice Energy Inc. whose share price surged on Monday amid news that it would be acquired by EQT Corp.

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